Tags: Health Topics | Medicare | Trump Administration | Diabetes | insulin | seniors | medicare

Trump Administration Announces Cap on Insulin Costs for Seniors

insulin syringes are shown

By    |   Tuesday, 26 May 2020 02:46 PM

A majority of seniors on Medicare plans will not pay more than $35 a month for insulin, The Hill reports.

Insurance companies, drug manufacturers and the Trump administration inked a new deal, announced on Tuesday, that would cap the cost of the diabetes drug.

Under the agreement, more than 1,750 Medicare Part D drug plans and Medicare Advantage plans will cap the cost of insulin copays at $35.

The Centers for Medicare & Medicaid Services reports enrollees will save an average of $446 per year. CMS reports that one in three seniors has diabetes. 

CMS expects plans that cover the new benefit will be available in all 50 states, Washington, D.C., and Puerto Rico, with open enrollment beginning Oct. 15 and ending Dec. 7.

CMS Administrator Seema Verma told reporters Tuesday that premiums could “slightly increase” to offset the costs of the new program.

Kellyanne Conway, Trump’s senior adviser, told reporters on a call the announcement has nothing to do with politics.

“The timing really is keyed toward open enrollment, and is also just the latest step in what has been a three-plus-year effort to reduce prescription drug costs, including among vulnerable populations, like seniors,” Conway said. “So we're talking prescription drugs today, not politics here at the White House.”

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A majority of seniors on Medicare plans will not pay more than $35 a month for insulin, The Hill reports.
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Tuesday, 26 May 2020 02:46 PM
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